For the Month of May the Lee County's housing market saw a nice increase over April with an 8% increase in closed sales compared to 2018. Sales were up by 8.1% for Single Family and 8.7% for Condos.
May showed Median Sale prices were up slightly for Single Family, while Condos showed a higher increase of 7.8%. Inventory for Single Family is at a 5.7 Months Supply for Single Family and 6.2 for condos. Indicating the supply and demand for properties is fairly equal.
What does that mean to you?
Well Sellers usually accept reasonable, close-to-list-price offers, while the homes will generally sit on the market for an average time on market and for buyers; there is a usually a sufficient number of homes to compare and choose from.
Now broken down by cities. Single Family in Bonita Springs had a strong increase over 2018 and There was a significant drop in sales for Fort Myers Beach compared to 2018. Lehigh Acres, Pine Island and Sanibel also showed a double digit drop over last year.
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Pinnacle Property Group
Lee County Market Update April 2019